Heron Bay Capital Management Trims Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Heron Bay Capital Management lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,594 shares of the financial services provider's stock after selling 10,537 shares during the quarter. LPL Financial accounts for about 5.8% of Heron Bay Capital Management's investment portfolio, making the stock its biggest holding. Heron Bay Capital Management owned about 0.11% of LPL Financial worth $27,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in LPL Financial in the third quarter valued at $43,000. Jones Financial Companies Lllp lifted its stake in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc bought a new position in LPL Financial during the fourth quarter worth about $59,000. Compass Financial Services Inc acquired a new position in LPL Financial during the fourth quarter worth approximately $65,000. Finally, R Squared Ltd bought a new stake in LPL Financial in the fourth quarter valued at approximately $78,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last ninety days. 1.30% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LPLA shares. Morgan Stanley boosted their target price on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. JMP Securities reiterated a "market outperform" rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. StockNews.com lowered shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and an average price target of $379.17.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded down $4.08 during mid-day trading on Wednesday, reaching $338.46. The company had a trading volume of 136,234 shares, compared to its average volume of 740,307. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 0.94 and a beta of 0.82. The business's 50-day simple moving average is $352.40 and its 200 day simple moving average is $309.86. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. LPL Financial's dividend payout ratio (DPR) is currently 8.55%.

LPL Financial Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.